Your selected savings accounts
ING is one of the bigger banks operating in Australia, offering a range of banking products including savings accounts, home loans, and superannuation. Among its savings products, ING offers the Savings Maximiser, Savings Accelerator, as well as term deposits to help customers reach their financial goals.
High variable interest rate of up to 5.50% p.a.
No monthly account fees
Unlimited free transactions
Easy to link with an Orange Everyday transaction account
Bonus interest rate subject to meeting monthly criteria
Highest interest rate limited to balances up to $100,000
ING's Savings Maximiser account has one of the highest rates we track at 5.50% p.a. The account offers a base rate of 0.55% p.a., with an additional variable rate of 4.95% p.a. available for eligible accounts. To earn the bonus interest, customers need to meet monthly criteria:
1. Deposit at least $1,000 from an external source into any personal ING account.
2. Make 5 or more settled (not pending) eligible card purchases.
3. Grow the Savings Maximiser account balance (excluding interest earned for the current month).
It's worth noting that the highest interest rate applies to balances up to $100,000 on one nominated Savings Maximiser account. While this cap might be a drawback for some high-balance savers, it’s still high enough to offer value to most savers.
The requirement to open an Orange Everyday account alongside the Savings Maximiser might be seen as an extra step, but it can provide more flexibility in managing your finances. The Orange Everyday account itself comes with benefits like no monthly fees and rebates on international ATM withdrawal fees which could be helpful for savers.
Overall, the ING Savings Maximiser could be an excellent choice for savers who can consistently meet the monthly criteria and are looking to maximise their interest earnings.
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Enjoy the flexibility to access your funds with no monthly deposit requirements or lock-in terms. No ING fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Your selected savings accounts
Offered an increased interest rate for the first 3 months which was substantial. Easy to set up, online banking is easy to navigate and they are always a pleasure to deal with. Can call them 24/7 which is so handy.
Easy to use app. Love that I get reimbursed for fees when taking cash out at ATM. Good percentage of interest when sitting in maximiser account.
I like ING overall and do most of my banking with it. The site is easy to navigate and customer service by phone excellent. The only thing I don't like about the savings maximiser are the strict conditions needed to achieve the highest interest rate each month.
I love ING. The rebates for overseas amounts. Using at atm. Just insert card a few times a month rather than tapping.
Has great savings and interest opportunities
Easy convenient banking I have been with ING for years now I have had no issues and great return each time I make a payment on a utility bill I get a return of $1-$2 per transaction
The only bad thing I have to say about this is that it can be annoying to hit all the marks to get the bonus interest but once you do its really worth it.
Very competitive fees. Only downside is the lack of branches and customer service.
Ing Savings Maximiser is fee free, excellent online portal, and good customer service should you need it. Only inconvenience is the lack of branches. If I need to visit a branch it would require a trip into the Sydney CBD.
I have always found ING to be a truly friendly and dependable bank. Great service and extremely helpful. AlwY get to speak to a real person . More than happy with this bank
Yes, ING is a secure banking option in Australia. As an Authorised Deposit-taking Institution (ADI), deposits up to $250,000 are protected by the Australian Government's Financial Claims Scheme, providing a high level of security for your savings.
To earn the highest interest rate of 5.50% p.a., you need to:
Yes, you can open multiple Savings Maximiser accounts. However, the highest interest rate (up to 5.50% p.a.) will only apply to one nominated account with a balance of up to $100,000 when you meet the eligibility criteria.
^See information about the Mozo Experts Choice Savings Account Awards
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